The Model Of Brand Identity Prism, By Kapferer

Many things have however changed since then and today we can see a huge variety of different luxury brands that are pertaining to different categories, targeting different customers. This has been enabled by different factors out of which I consider the emerge of a mass class of relatively wealthy people to be the most important one (Brandchannel.com). This has also had the

It is known to be true that the best endorsements achieve a deriving ideas, style and taste between the product and the celebrity. Giving a brand an appearance is more than just a marketing strategy to increase sales; it is a decision that can change the outcome of the brand for the

At the apex of the market was haute couture with it very high-end “custom” product offering that catered to the extremely wealthy. Luxury goods manufacturers believed diffusion brand’s lower profit margins were offset by the opportunity for increased sales volume and the growing size of the accessible luxury market and protected margins on such products by sourcing production to low-wage countries. Eye-catching utilization of their products by prominent figures in society leads to increasing demands for luxury good items and it is a growing industry with the global luxury goods market growing 9% per year. These consumers buy their products for satisfaction and to boost their self-esteem rather than for ease or comfort. All these components blend in the context of a successful business of the luxury goods.

No two-brand identities are the same and it is crucial to consider what type of clothing the company will supply to its customers. There is a large difference in the way luxury and fast fashion brands operate which translates to how they create and maintain a brand identity. Some of the major differences are that luxury brands do not respond to rising demand because they want their product to be difficult to buy. The role advertising has for luxury brands is not to sell but to create status. Luxury brands do not use the Internet even though the importance of online coordination was just discussed. Finally, luxury brands do not look for cost reductions (Nieto). They still create an identity by creating a personality or an idea that represents the brand,

Advertising is essential in today’s competitive economy; it is the what influences consumers to make the purchases that they do, but not all advertising tactics have been as successful as celebrity endorsement, also known as red carpet branding. Celebrity endorsements started in the 1760’s when Josiah Wedgwood used royal endorsements to promote his pottery and chinaware and make it more appealing to consumers. After Wedgwood used red carpet branding, other producing companies started to follow the trend. Soon companies realized they were getting more business when they were hiring celebrities to advertise their products(Celebrity Endorsement- Through the Ages). Celebrities brought advertisement to a whole different level. They made marketing more competitive and people more influential. Although some might argue that they make purchases based on personal interest, celebrities influence the sale of products because of their status, success and beauty.

The changing landscape of the luxury industry challenges brands to find a new approach to reach out to their core costumers. Brands like Louis Vuitton, Gucci or Burberry are about to jeopardize their true customers and their image by overexposing themselves to a mass luxury clientele. Thus, a new approach must be found to bring back the feeling of true luxury, personal attention and to create a bond to their core

Celebrity endorsement is one of the most commonly used channels of brand communication which a celebrity acts as the brand 's spokesperson and endorses the brand 's claim and position by extending his/her personality, popularity, stature in the society or expertise in the field related to the brand that he/she is associated with. Celebrity endorsements have long been seen as one of the most preferred tools to build a firm 's brand equity by advertisers. This strategy has largely been successful. In fact every possible brand that enjoys high equity amongst its target populace has used

One of the competitive forces that have a great effect on industry attractiveness is the threat of new entrants and how hard it is to build up a brand name that can compete with the likes of Coach, Louis Vuitton, Dolce & Gabbana, and Versace. It takes deep financial pockets and great commitment to create luxury image with well-known brand and superior quality. Thus making it costly for new entrants to gain exposure and market share. Luxury items are known for their superior quality and to some people, the status that they carry. New entrants must build this status from the ground up, which can prove difficult without

On a television screen or a tabloid magazine celebrities extravagant lifestyle and attractiveness has extraordinary influence in the public eye. Their influence is extensive due to the constant spotlight that is placed upon them in the mainstream media. Celebrity refers to fame or public attention accorded by the mass media to individuals or groups of people themselves who receive such a status of fame and attention (wikipedia). Their influence is perhaps greatest in the fashion industry. From the top grossing brands to the lowest, the endorsement of a celebrity can catapult their brand into the spotlight. Whatever they wear is recorded or photographed and then seen by fans who want their look. When consumers see a celebrity wearing a brand they are less apprehensive and scurry to purchase the item before it sells out. Celebrities endorsing other products has led to celebrity brands success.

In the last couple of years, luxury brand management has generated much interest and discussions in both academic and business circles. Among business leaders, the debates have been related to the associated challenges that have emerged as a result of the evolution of luxury since it became a consolidated economic sector. Many

When we go through the streets, when we watching a movie, overall, everywhere we see advertisements with celebrities posted by different companies from car manufacturers to milk producers. Using celebrities is a common type of globally advertising (Dwivedi, McDonald, & Lester, 2014). Besides, it influences brand recognition among all types of consumers (Chan, Leung, & Edwin, 2013). Several suitable illustrations of this type advertising are George Clooney, who is an actor of United States of America, promoted Nespresso Coffee machines, David Beckham, who is a sportsman of United Kingdom, prompted Adidas sportswear, (Dwivedi et al., 2014) Furthermore, listed companies follow significant instructions, which are created by marketers, in order to get the highest brand awareness and brand image from the use of celebrity endorsement. However, there are advantages and disadvantages of celebrity endorsement approaches.

One of the most significant barriers comprises the brand equityenjoyed by most established brands. The repute of the brand is extremely important to customers; luxury brands such as Jaguar, Mercedes-Benz, BMW and Audi have a long and magnificent history to boast about, and the companies work hard to preserve the association between them and other symbols of individuality and of top-notch quality and performance.

In the article “Type of Luxury Consumers”, the author, Robert Frank, tries to deal with the issue of the behaviour of luxury consumers. He introduces the readers that the consumers will spend their money lavishly to show wealth and status based on their economic ability. They are willing to buy expensive items with a good branding compared to the low-end product that lack of explicit markers. The author argues every type of luxury consumer has their own desire and taste to follow the trend and the effect of these consumers towards the brand management. The author agrees with the research made by the USC Marshall School of Business about this issue. This can be proved when his thought is always parallel with the study.

How luxury brand can add value to customer’s life trough more than designing a product

A company expanding their products as an international brand can lead to high brand awareness. Brand awareness can result in aided recall or top of mind awareness. In order to be a successful international luxury brand, the brand itself has to “create a favorable social image” (Hennigs, Wiedmann, Behrens, & Klarmann, 2013). The luxury brand also needs to attract profitable customers (Cervellon & Coudriet, 2013). According to the case, David Tang was trying to attract a more the wealthy market when moving into the fashion capitals such as New York. International luxury brands also need to provide high-quality products that can be related to the location in which it is available for sale. Companies should conduct research on the demographics and geodemographic in which a company is selling an item. Conducting such research can result in competitive advantage for the organization. For example, according to research from an article about luxurious fashion brands, Apple and Samsung were in competition against one another. One region believed that Apple was better due to innovative technology, whereas, the other region believed that Samsung was better due to higher quality and more reasonable prices. According to the same article, “each country has a different geographical, social, and cultural background, and thus the CI of each luxury fashion brand exerts a different influence on consumer perceptions and behaviors” (Hye, Lee, Kim, &